short sale of a home
September 4th, 2009 No comments

You can buy a home before it goes into foreclosure, if you manage to arrange a short sale. A short sale is when the homeowner sells the home to you at a price lower than what they owe to the bank or other lender. Short sales are a way of reducing the loan against the property, so it is more marketable. It means a loss for the homeowner, but there are many reasons why an owner may choose a short sale.